"Estate planning" in Camden refers to the decisions a person makes regarding what is to be done with their assets after their death, and the process of implementing those wishes.
You will typically need to seek the help of a professional with legal and/or financial expertise when in the process of estate planning. Simple mistakes in an estate plan can cause severe problems, including legal and personal conflicts between your survivors.
Estate planning can have several positive effects on the planner during life, as well. These benefits are typically somewhat intangible, revolving around the peace of mind that comes with knowing that, after your death, you family will be taken care of and that they'll know what your last wishes are. Nonetheless, most people find this very valuable. To that end, you should come up with a power-of-attorney agreement. When you grant someone power of attorney, you have given them the power to make specific decisions on your behalf. You can grant them as much or as little authority as you want. Most people, however, give family members or life partners power of attorney with respect to medical care, so if they become incapacitated, their wishes will still be carried out.
The last thing a person wants to think about is the possibility that, after their death, their survivors are fighting over some part of their estate plan that's ambiguous or otherwise contentious. If you want to prevent this, or at least make it far less likely, you should have the help of a Camden attorney every step of the way.
Common Features of Camden Estates
Will: Wills are a very important part of almost all estate plans. In simplest terms, it answers the question "who gets what after I die?" Usually, you can leave your property to anyone you wish. If you die without a will, your property will usually be given to your closest living relative (usually a spouse or child).
Living Will: This is a document which articulates your wishes concerning your medical care, to give instructions to your family and doctors in the event that you become incapacitated. While directly consulting it will hopefully never be necessary, one never knows - unexpected illnesses and injuries can happen to anyone, at any time. While making a living will might require a person to acknowledge the existence of some unpleasant possibilities, it can end up saving their loved ones a great deal of grief and uncertainty.
Power of Attorney: This is an arrangement in which you give someone else, typically a trusted family member, the power to make financial and medical decisions on your behalf, in case you become unable to make or express your own decisions.
Funeral Arrangements: Whatever your preference on this matter (if you have a preference) you should make it known to your family both verbally and in writing. If you have very specific wishes concerning the final disposition of your mortal remains, you should not put those instructions in your will. Or, if you do, you should also put them somewhere else. Wills are normally not read for quite some time after a person dies, and the funeral is typically long over by then, so it will be too late to follow your instructions.
Do I Need a Camden Estates Lawyer?
A flawed estate plan in Camden can result in those affected by it being confused as to your intent, which can then lead to disputes between them. A knowledgeable attorney can frequently avoid this confusion by ensuring that there is as little ambiguity as possible in your will and other related documents.